Things are kind of reaching a fever pitch here. Anyone else scared? Even a bit?

Yes, a bit. The forum is showing that giddy kind of euphoria with lots of swagger and bravado and posts about huge anticipated prices that once often sees at the top in a market.

However. Keep in mind this is just the forum. Which is the tiniest sliver of the world. Sentiment indicators tell you it's a top when the sentiment is at a max. But the vast majority of potential bitcoin buyers probably don't know it exists yet. So I wouldn't take the sentiment you see here as any kind of broad indicator. Just read the comments in the latest Zero Hedge article that might mention bitcoin. They are almost uniformly hostile towards it, and so complacent in their ignorance. And those are relatively well-informed people who should know better.

Here are a couple things I think give some perspective:

The Fed's open market operations are buying up ~$80B every month. New money into the monetary base. At the current price bitcoin's total value (valued at $100/coin) is about $1B (order of magnitude). So the fed is "spending" 80x bitcoin's market cap every single month. That's a lot of dollars looking for somewhere to go.

If the bitcoin were regarded as an equal asset class as gold, such that the value of all bitcoins had the same dollar value as all gold in existence, bitcoins would be worth ~ $1 million/coin. (based on ~$10 trillion being the value of all gold in existence, and the current ~10 million bitcoins).

Bull 1: Where's proudhon in this picture?Bull 2: Oh, right there maybe! Enhance!Bull 1: Don't see him. Wait, I have an idea, let me zoom out!Bull 2: Still no proudhon.Bull 1: Wait hold on, zoom out a little more. Just a sec....There he is!Bull 2: I can't see him.Bull 1: Right there, back at $8. He sold everything at $8. Ha! We sure left him behind...

Things are kind of reaching a fever pitch here. Anyone else scared? Even a bit?

Yes, a bit. The forum is showing that giddy kind of euphoria with lots of swagger and bravado and posts about huge anticipated prices that once often sees at the top in a market.

This always gets trotted out during gains. I've only been active on these forums for a few short weeks (since ~$30-odd), but it seems that it's like clockwork: After every big gain, people get nervous and start calling out irrational exuberance.

However, it seems the real irrationality is usually always on the side of the bears.

Oh Loaded, who art up in Mt. Gox, hallowed be thy name! Thy dollars rain, thy will be done, on BTCUSD. Give us this day our daily 10% 30%, and forgive the bears, as we have bought their bitcoins. And lead us into quadruple digits

Things are kind of reaching a fever pitch here. Anyone else scared? Even a bit?

Yes, a bit. The forum is showing that giddy kind of euphoria with lots of swagger and bravado and posts about huge anticipated prices that once often sees at the top in a market.

This always get trotted out during gains. I've only been active on these forums for a short weeks (since ~$30-odd), but it seems that it's like clockwork: After every big gain, people get nervous and start calling out irrational exuberance.

However, it seems the real irrationality is usually always on the side of the bears.

"The difference between bad and well-developed digital cash will determine whether we have a dictatorship or a real democracy." David Chaum 1996"Fungibility provides privacy as a side effect." Adam Back 2014

This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.

Things are kind of reaching a fever pitch here. Anyone else scared? Even a bit?

Yes, a bit. The forum is showing that giddy kind of euphoria with lots of swagger and bravado and posts about huge anticipated prices that once often sees at the top in a market.

This always get trotted out during gains. I've only been active on these forums for a short weeks (since ~$30-odd), but it seems that it's like clockwork: After every big gain, people get nervous and start calling out irrational exuberance.

However, it seems the real irrationality is usually always on the side of the bears.

Also, the forums aren't all of bitcoin. We're actually a minority.

Also, perhaps everyone here says things to trick people into doing the opposite of what they say. Maybe all these bulls sold at $100? Anyway, true value is 1 years rent in a decent urban neighborhood.

Oh Loaded, who art up in Mt. Gox, hallowed be thy name! Thy dollars rain, thy will be done, on BTCUSD. Give us this day our daily 10% 30%, and forgive the bears, as we have bought their bitcoins. And lead us into quadruple digits

Oh Loaded, who art up in Mt. Gox, hallowed be thy name! Thy dollars rain, thy will be done, on BTCUSD. Give us this day our daily 10%, and forgive the bears, as we have bought their bitcoins. And lead us into quadruple digits

Oh Loaded, who art up in Mt. Gox, hallowed be thy name! Thy dollars rain, thy will be done, on BTCUSD. Give us this day our daily 10% 30%, and forgive the bears, as we have bought their bitcoins. And lead us into quadruple digits